After a big up day like yesterday, some profit taking is a good probability. Look for stocks that are breaking to new lows or rolling over and heading down. It's early in the day so there is still plenty of room for them to drop further.
ZION
CNX
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12 comments:
this blog is a tease....
why bother with the charts if you are not willing to share the how
I didn't trade yesterday, I was speaking about general conditions.
do you think the disciplined trader seminar is good for a new trader or is it more for a trader who is a little more seasoned with his plan of attack and comfortable with it. i saw the price and it is pretty steep for me. maybe it's better just to re-read "trading in the zone" a few times.
Hey Max. Dig deeper. This blog has been the single best resource for me as a practice-trader, just go back and study the charts and the essays. There's lots of "How" there... some very plainly set out for you and some requiring a little effort on your part.
bluecollar,
you need to check out the max factors blog. i don't think he took the time to view the rest of the entries. but i will give the max factor credit for being young and working hard at what he likes.
I've been a bit lazy with the postings lately so this blog has not been as good as it was. But there's 4000 or so realtime examples of how I do it and many articles to make you think out of the box. Anyone else can do the same if they apply themselves. If you trade, I know you can appreciate the mental intensity it takes capturing the moment on screen , posting it and managing several trades.
Fozz- the Disciplined Trader course and "Trading in the Zone" cover the same material for the most part. If, after reading the Trading in the Zone book you still are not progressing as a trader and reaching your potential, then you should take the other course. $1000 is a very small amount to pay for a trading education.
I view trading as a never ending learning experience, mostly about oneself, and always strive to learn something new.
when daytrading cutting your costs
is essential.... does anybody here has used speedtrader ?
hello fozzking,
no I did take the time to view a lot of the entries but honestly all what I found is actually stuff I heard my father telling me over the years already. I did start trading when I was 10 and doing fine but I think there could be more to this blog.
Max... there could be more to everything you watch and read. When you're getting something for nothing, it takes a lot of nerve to complain you're not getting more or criticize how it is delivered. It is rude and ungrateful on your part. Perhaps that is one of the things your father told you over the years but DIDN'T listen to...
I'm sure I'm not alone in thinking this and many other blogs are a tremendous value... especially when they don't put up ads or charge a fee to view.
Dear bluecollartrader,
it is interesting what kind of negative spin you put onto my comments.... and I think I am not alone reminding you of free speech and expression of someones opinion.
Critique can be a positive thing,lecturing hardly ever serves more than an subordinated purpose.
The thing I have to realize is that it seems that I am already pretty far ahead in my learning curve with 4 years of realtime trading compared to people like you that still papertrade. I am sure you will catch up one day and hopefully after 4 years can look back at similiar performance numbers, remember over 80% of traders loose money or breakeven ( maybe read up on the Pareto Principle)and I am proud that I made money all 4 years so far with low drawdowns and a good Sharp Ratio.
The blogosphere is like a scavenger hunt and what is tremendous value for some people is old news for others.
You can lead a horse to water but you can't make it drink.
dear bluecollarpapertrader,
I am sorry to see that you compare yourself to a horse,
but I am sure that by reading Scotts charts and figuring out the importance of his LINES you will be drinking water soon, lots of it.
Please let us all know when and if you have joined the world of real traders.
Have a great day.
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